Ch# 1 intro to business research

This document discusses business research methods. It defines business research as a systematic effort to investigate and solve problems in a work setting. The key steps in business research are identifying the problem area, conducting interviews and library research, developing a theoretical framework, formulating hypotheses, designing the research, collecting and analyzing data, discussing findings and implications. Research is important for managerial decision making as it provides necessary information to decrease risk. There are two types of research: basic research which expands knowledge, and applied research which addresses specific organizational decisions. Research approaches can be deductive, reasoning from general to specific, or inductive, reasoning from specific to general.